Business
Inflation further eases to 4.1% in November
December 5, 2023, 12:35 pm
MANILA – The country's headline inflation further eased to 4.1 percent in November this year, the lowest recorded since the 4 percent in March 2022, the Philippine Statistics Authority (PSA) said. In a briefing on Tuesday, National Statistician Dennis Mapa said the headline inflation last month… Read More
PSEi strong, peso ends sideways ahead of inflation data
December 4, 2023, 8:02 pm
MANILA – Local shares closed strong ahead of the release of inflation data while the peso ended the day sideways. The Philippine Stock Exchange index (PSEi) finished the day 13.83 points higher to 6,259.01, with All Shares also ending in the green territory at the 3,337.25 level, up by 5.03… Read More
Fuel price adjustments set Dec. 5
December 4, 2023, 5:44 pm
MANILA – Oil companies will adjust pump prices of petroleum products starting Dec. 5. In separate announcements Monday, Caltex, Cleanfuel, Jetti, Petro Gazz, PTT, Seaoil and Shell said they will increase gasoline prices by PHP0.30 per liter and will slash diesel prices by PHP0.30 per liter.… Read More
Mixed results mark auction of T-bills
December 4, 2023, 5:31 pm
MANILA – Results were mixed in Monday's Treasury bills (T-bills) auction as the Bureau of the Treasury (BTr) fully awarded bids for the 91-day T-bills while partially awarding the 182- and 364-day securities. The 91-day T-bills fetched an average rate of 4.996 percent, while the 182- and 364-day… Read More
PH aerospace exports to UAE seen to grow with CEPA
December 4, 2023, 3:15 pm
MANILA – Aerospace exports is one of the Philippine sectors that is expected to get a boost from the Comprehensive Economic Partnership Agreement (CEPA), a free trade deal between Manila and Abu Dhabi, a senior trade official said Monday. In a press briefing, Department of Trade and Industry… Read More
Diokno calls for New Collective Quantified Goal on climate finance
December 4, 2023, 2:30 pm
MANILA – Department of Finance (DOF) Secretary Benjamin Diokno cited the need to immediately set up the New Collective Quantified Goal (NCQG) on climate finance to strengthen countries’ climate action. Diokno made the statement during the 2023 High-level Ministerial Dialogue (HLMD) on the New… Read More
PH ranks 4 in power sector investments
December 4, 2023, 1:32 pm
MANILA – Department of Energy (DOE) Assistant Secretary Mylene Capongcol welcomed the BloombergNEF Climate 2023 report, which propelled the Philippines to the top 5 as one of the most attractive emerging markets for investments in the power sector. The Philippines moved up six places to number 4… Read More
Investment mgmt firm projects PH economic growth at 5.6% in 2023
December 3, 2023, 11:00 pm
MANILA – Sun Life Investment Management and Trust Corporation (SLIMTC) projects Philippine economic growth to accelerate next year, driven by consumption and ramped up government spending. In a recent interview, SLIMTC president and chief investment officer Michael Enriquez said economic… Read More
Manila’s luxury residences fastest growing prices globally - report
December 1, 2023, 6:42 pm
MANILA – The Philippine capital has logged the fastest growing price in luxury residential market across the world, real estate consultancy firm Santos Knight Frank (SKF) said. In a press conference in Makati City on Friday, the SKF said the price growth of Manila’s prime residences was… Read More
PH, UAE agree to construct 500-MW capacity data centers
December 1, 2023, 6:18 pm
MANILA – The Philippines and the United Arab Emirates (UAE) target to put up data centers here with around 500 megawatts of capacity as the two countries signed a memorandum of understanding (MOU) to boost the digital infrastructure. In a statement Friday, the Department of Trade and Industry… Read More
PSEi up as investors buy bargain stocks; peso moves sideways
December 1, 2023, 5:30 pm
MANILA – The local stock market ended the last trading day of the week on a positive note while the peso moved sideways on Friday. The Philippine Stock Exchange index (PSEi) gained 21.45 points to close at 6,245.18 while All Shares also went up by 4.39 points to 3,332.22. Almost all sectors… Read More
PEZA drafts guidelines for halal ecozones
December 1, 2023, 4:30 pm
MANILA – The Philippine Economic Zone Authority (PEZA) is currently drafting guidelines to incentivize activities related to the halal industry. PEZA Ecozone Development Department Manager Ludwig Daza recently told the Philippine News Agency that the investment promotion agency (IPA) aims to… Read More
OPEC+ countries announce daily voluntary output cuts by 2.2M barrels
December 1, 2023, 4:28 pm
ANKARA – Several OPEC+ countries announced Thursday that they have agreed to voluntarily cut oil production by a total of 2.2 million barrels per day (bpd) in the first quarter of 2024. The additional voluntary cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and… Read More
DA promoting sheep raising as alternative livelihood for coco farmers
December 1, 2023, 3:59 pm
MANILA – The Department of Agriculture (DA) targets to establish a domestic sheep-raising industry while simultaneously supplementing the often meager income of coconut farmers. In an interview on Friday, DA Undersecretary Deogracias Victor Savellano said raising small ruminants -- sheep, in… Read More
Farmgate price of palay up in Oct.
December 1, 2023, 3:40 pm
MANILA – The average farmgate price of palay at the national level went up by 18.1 percent in October this year, the Philippine Statistics Authority (PSA) said. In a report on Friday, the PSA said the average farmgate price of palay at the national level during the month was at PHP20.60 per… Read More
PH records best manufacturing condition in ASEAN in Nov 2023
December 1, 2023, 3:24 pm
MANILA -- The Philippine manufacturing sector’s performance in November was better than its ASEAN neighbors, the S&P Global Manufacturing Purchasing Managers’ Index (PMI) reported Friday. The Philippines' manufacturing PMI in November 2023 stood at 52.7, higher than the 52.4 index in October… Read More
BSP eyes November inflation rate between 4% and 4.8%
December 1, 2023, 9:17 am
MANILA – Higher prices of some agricultural items, along with power and tolls rates, are seen to contribute to the projected 4 percent to 4.8 percent domestic inflation rate for November, slower than October’s 4.9 percent. In a statement Thursday night, the Bangko Sentral ng Pilipinas (BSP)… Read More
Analyst: Steady credit ratings on PH show economic mgt ‘done right'
November 30, 2023, 8:34 pm
MANILA – Stalwarts of the Philippine Stock Exchange (PSE) on Thursday welcomed Standard & Poor’s (S&P) Global Ratings’ affirmation of the country’s “BBB+” long-term and “A-2” short-term sovereign credit ratings, calling the move “a flicker of light” amid a gloomy world economy.… Read More
First e-commerce platform for collectibles taps $5-B PH market
November 30, 2023, 7:49 pm
MANILA – Toki, the first social commerce platform for collectibles, has seen the Philippines as a lucrative market as approximately 40 percent of its population are collectors. In a statement Thursday, Toki said it targets to tap the USD5 billion collectibles market in the Philippines. Toki is… Read More
Stocks down for 2 days on profit-taking, peso weak
November 30, 2023, 7:06 pm
MANILA – For two consecutive trading days, the local bourse declined on profit-taking while the local currency closed weak at the end of month. The Philippine Stock Exchange index (PSEi) finished November’s trading down by 40.26 points to 6,224.88 level, with All Shares also closed lower by… Read More
